RIO DE JANEIRO, BRAZIL - The companies signed an agreement for Insigneo to acquire Citi Asesores de Inversión Uruguay and Citi International Financial Services (CIFS), the bank's Puerto Rico-based broker, according to Citywire Americas.The bank confirmed the deal in a statement and said that both sales are subject to "regulatory approval."
The specialized website last May reported that Insigneo and Citi were in talks over the bank's offshore wealth management operation in Uruguay. Negotiations stalled after Insigneo's then CEO - one of the main drivers of the purchase - Daniel de Ontañon was placed on administrative . . .